Your New Mortgage


You will need to contact your new mortgage lender in order to inform them that we are instructed to act on your behalf in relation to your remortgage. They will then forward your offer of mortgage onto ourselves at the same time as you receive your offer of mortgage.

It is vitally important that you read through the terms of your offer of mortgage. Should you feel that there are any matters, which require clarification, please do not hesitate to contact your mortgage lender, for clarification. You will be bound by the terms of your offer of mortgage and hence, it is imperative that you are fully conversant with regard to its terms.

In the event that you are obtaining an interest-only mortgage it is "your responsibility" to ensure that you will be taking out a suitable repayment vehicle in order to repay the debt at the end of the mortgage term.

In the event that you are obtaining a repayment mortgage, it will be necessary for you to ensure that sufficient death cover is in place in order to repay your mortgage in the event of your death.

It is "your responsibility" to ensure that your life policies are placed on risk as of the date of completion. We would request that you provide us with details of your life policies as soon as possible.

Please note that by signing the Mortgage Deed you are stipulating that you have understood the terms and conditions of your offer of mortgage in its entirety. In the event that you fail to make repayments under your mortgage, your mortgage lender may take steps to repossess the property.

The following information is a summary of the basic obligations and conditions that will apply to your offer of mortgage. Please ensure that you:-

Make the monthly payments notified by your Lender promptly.

Do not alter or extend your house or flat without the Lenders consent.

Comply with any restrictions mentioned in the Title documents.

Comply with any requirement proposed by your Local Authority regarding planning laws and similar matters.

Pay and maintain the buildings insurance policy on your property.

Make any necessary repairs to your property and keep it in good condition.

Pay any insurance premiums for a life policy, pension or similar vehicle taken out to act as security in connection with your mortgage and, if you hold the policy document, keep it safely.

Repay your mortgage in full at the time of selling your property.

Do not let the property without the Lenders consent.

Do not allow any other party to occupy the property without the Lenders consent.

Please note that the Lender may:-

Insure your property or, if you have arranged your own insurance, request insurance details.

Enforce your mortgage against you and, if your mortgage is held jointly with another person or somebody else has given a guarantee, against that other person.

Ask the Court to order you to leave your home if you do not keep up your monthly payments so that they can sell it.

Should the Lender have to sell your home, it has a duty to sell it for the best price it can reasonably obtain. This may not necessarily be the price that you would expect to obtain from a private sale.

Recover any shortfall from you if the Lender has to sell your home at a loss.

Please also note:-

You may be able to ask your Lender for a further loan if you need to borrow more money under your mortgage (eg. to improve your house).

Subject to the special conditions of your offer of mortgage you may repay your mortgage at any time without giving the Lender notice. Most Lenders do not make a charge for not receiving notice of your intention to repay but the special conditions in the offer usually make this clear.

Take care to ensure that you are aware of any early redemption penalties.

In the event that you have paid a mortgage guarantee premium, then if you default, the insurance company may seek to recover from you any loss incurred by them in refunding your Lender.

This summary lists only the key provisions of the mortgage conditions governing your mortgage. It does not limit or reflect the mortgage conditions which you should read carefully. They are set out in the formal offer you will receive from the Lender. It is your responsibility to ensure that you can comply with all the conditions affecting your proposed mortgage.

Please note that no warranty or advice will be given by your Conveyancer with regard to the suitability of the terms and conditions of your mortgage.

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